Mario bought a small house in Nelson and was puzzled when he saw the conveyancing documents, which referred to a transfer of a "fee simple." The following statements were made to him to explain the term. Which is incorrect?
A) Technically, only the Crown owns the land, but the fee simple interest is the greatest bundle of rights, other than the Crown's, a person can own.
B) The owner of the fee simple has the right to exclusive possession of the land and can sell it in his lifetime or dispose of it by his will.
C) If the owner of the fee simple dies without a will, his estate reverts back to the Crown.
D) The owner of the fee simple has rights to the surface of the earth and also to anything attached to it (e.g., crops, houses, fences) .
E) The owner of the fee simple also owns what is below the land subject to the reservations in favour of the Crown.
Correct Answer:
Verified
Q32: In 2015, Jonah sold a building to
Q33: If you grant your grandma a life
Q34: Jane had two teenaged sons. Her husband
Q35: After a default and pursuant to an
Q36: Brenna owns two adjacent lakeside lots. She
Q38: After saving his money for years, Taylor
Q39: Mario bought a small house in Nelson
Q40: Which of the following statements is incorrect
Q41: Which of the following statements is correct
Q42: Which non-litigious approach is becoming an effective
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents